3 weeks ago
7
By Gabriel Ewepu
ABUJA — President Bola Ahmed Tinubu has announced plans to standard up concern successful Nigeria’s coagulated minerals assemblage with a committedness of ₦1 trillion, aimed astatine transforming the assemblage into a cardinal operator of economical diversification and nationalist prosperity.
The President made the announcement connected Tuesday portion declaring unfastened the 10th variation of the Nigeria Mining Week successful Abuja.
Represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, President Tinubu said the coagulated minerals assemblage remains cardinal to his administration’s strategy for sustainable growth, employment generation, and overseas speech earnings.
He described the ₦1 trillion committedness arsenic portion of a broader ₦4.5 trillion enlargement successful the 2025 national budget, focused connected geo-scientific exploration, nationwide geological surveys, and infrastructure upgrades to unlock the country’s mineral potential.
“Imagine a Nigeria wherever the publication of mining to our GDP rivals that of oil; wherever alloy mills successful Kaduna and Katsina hum with activity; wherever Nigerian-made batteries, star panels, and precious metallic products are exported worldwide,” the President said.
“This is not a distant dream; it is an achievable imaginativeness — and we are already connected the way to realising it.”
He further revealed that the coagulated minerals assemblage generated implicit ₦38 cardinal successful 2024, up from ₦6 cardinal successful 2023, representing a six-fold summation owed to improved oversight and reforms.
President Tinubu emphasized that the caller backing would heighten transparency, determination equity, and biology responsibility, portion reducing dependence connected oil.
“Natural resources indispensable heighten lives contiguous and for aboriginal generations. We are enforcing strict biology regulations and promoting transparency done the Extractive Industries Transparency Initiative (EITI),” helium said.
The President noted that Nigeria’s mining goals align with Africa’s broader imaginativeness of shifting from earthy worldly exports to value-added production, stressing that the continent holds astir 30% of the world’s known mineral reserves.
On security, helium assured that authorities was intensifying efforts to unafraid mining regions from banditry and amerciable operations.
“A unafraid situation is the bedrock of sustainable assets development,” helium stated.
The Minister of Solid Minerals Development, Dr. Dele Alake, described the ₦1 trillion concern arsenic a bold measurement that would presumption the coagulated minerals manufacture arsenic Nigeria’s “next occupation spinner.”
“What we deficiency is not argumentation but courageous enactment to instrumentality it,” Alake said. “Our reforms person already grown assemblage gross by 4.6 percent, and present we indispensable make section worth chains and dainty earthy assets arsenic nationalist treasures.”
Also speaking, the Minister of Steel Development, Prince Shuaibu Abubakar Audu, reiterated the administration’s committedness to reviving the alloy assemblage arsenic a large catalyst for industrialization and diversification.
President of the Miners Association of Nigeria (MAN), Dele Ayanleke, lauded the government’s reforms and the translation of the Nigeria Mining Week into a large level for investment, portion urging greater stakeholder inclusion and transparency.
“The challenges earlier america — from amerciable mining to infrastructure gaps — indispensable go stepping stones for progress,” helium said. “Together, we tin marque mining a cornerstone of Nigeria’s $1 trillion system by 2030.”
In his invited remarks, Permanent Secretary of the Ministry of Solid Minerals Development, Faruk Yabo, reaffirmed the ministry’s committedness to transparency, technology-driven reforms, and adherence to planetary champion practices successful the mining sector.
The station Tinubu scales up coagulated minerals devt with ₦1trn investment, arsenic assemblage generates ₦38bn successful 2024 appeared ...
English (US) ·